Accelerator

Caret Capital Launches Caret360 Accelerator Program to Empower Early-Stage Startups

• ByStartupStory     |    May 21, 2024

Caret Capital, a leading sustainability-focused venture capital fund, has announced the launch of the Caret360 Accelerator, a 100-day outcome-focused program designed to support early-stage startups. The program offers selected startups up to Rs. 3 crore in investment, along with intensive mentoring from industry leaders. Additionally, participants will benefit from access to Caret’s extensive network of CXOs from some of the country’s largest corporations.

Commenting on the launch, Prajakt Raut, Managing Partner of Caret Capital, stated, “Caret Accelerator is a platform for us to empower early-stage startups with capital and mentoring from industry stalwarts. Startups will also have the opportunity to draw further follow-on capital from Caret Capital.”

Sandip Das, Ex-CEO of Hutchison and former Managing Director of Jio, who is also Co-chair of Caret Innovation Lab and Caret Accelerator, added, “Caret provides timely capital, aggregates and makes accessible industry expertise, imparts skills through mentorship, and helps startups improve their chances of success.”

The Caret360 Accelerator will focus on startups within three core areas: smart mobility, distribution/supply chain, and employment/employability. The program features a rigorous selection process involving multiple stakeholders, including other venture capitalists, corporate partners, and domain experts. Only about 1% of the applying startups are selected, ensuring a highly distinguished cohort.

Previous participants, such as Celcius Logistics and Just Deliveries, have successfully raised follow-on capital from Caret Capital and other prominent VCs. These companies exemplify the transformative potential that the accelerator aims to nurture.

Caret Capital’s portfolio reflects its commitment to revolutionizing key value chains. Notable startups in its portfolio include Stylumia, an AI-enabled demand forecasting platform for global fashion and lifestyle brands; Unstop, a platform facilitating the hiring of fresh graduates; and Omnivio, an omnichannel control tower platform for modern retailers and omni-brands. Other innovative startups supported by Caret Capital include Celcius, an asset-light cold supply chain provider; Xindus, a technology startup simplifying exports; Tusker, a rural logistics consolidation platform; and Just Deliveries, an intra-city logistics platform for perishables.

Additional portfolio companies include Conmove, a container logistics platform; Spareshub, a B2B distribution platform for auto spares; Citrus Freight, India’s first container booking platform for perishables; MoooFarm, a dairy agri-tech startup; and Traqcheck, an AI-powered background check platform for faster hiring.

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